India’s premier exchange is looking ahead even as newcomer Vikram Limaye wants to set things right.
IF ONE THING EMERGES crystal clear from the first two weeks of Vikram Limaye’s leadership at the NSE, it’s that the man is in a hurry to set things right. In barely a few days of joining the National Stock Exchange, the CEO & MD of the bourse filed the consent application with Sebi for a case that dogged the NSE, which alleges that the exchange unfairly gave access to a few brokers and algorithm traders.
For Limaye and the NSE, the consent application is a major move forward, which will pave the way eventually for a long-pending initial public offering, which has been stuck due to regulatory scrutiny. Consent applications are like negotiated settlements where a penalty is imposed on such entities. Says Limaye on the application: “It is an application to settle the matter without admission of guilt or wrong doing. The amount and terms would be mutually agreed based on discussions with Sebi.”
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